CARLSBAD AND MIRAMAR, CALIF. — A joint venture between Stos Partners and Boston-based Long Wharf Capital has purchased two industrial assets in Southern California for a total consideration of $13.9 million.
In the first transaction, the joint venture acquired a 70,224-square-foot property, located at 6212 Corte Del Abeto in Carlsbad, from a private seller for $9.7 million in an off-market transaction. The building is fully occupied by a go-kart racing tenant. The asset features a mix of office and warehouse space, as well as grade- and dock-high loading positions. Rusty Williams and Chris Roth of Lee & Associates, along with Tres Reid of CBRE, represented the buyers in the transaction.
In the second deal, the partnership purchased a vacant 27,510-square-foot industrial building, located at 8330 Arjons Drive in Miramar, from a private investor for $4.2 million. The new owners plan to upgrade the property with a new roof, new façade, parking lot improvements, updated landscape plan and interior renovations. Jason Smithson of NAI represented the seller in the transaction.